Monday, 8 August 2011

STOCK MARKET ANALYSIS FOR : 9 AUGUST 11

NIFTY SPOT LEVEL: 9 August 11

Tomorrow trading is expected between the strong levels of 4995 to 5195. If the market breaches the level of 5150 on the upper side then the next resistance level will be 5195. But if nifty breaches the support level of 5045then it may go down till the level of 4995. Nifty tomorrow is strongly expected to trade between the narrow ranges of 5045 to 5150.

SUPPORT:  First Nifty spot level near 5045 and Second Nifty spot level at 4995

RESISTANCE:  First Resistance near to 5150 and second near to 5195.


BANK NIFTY FUTURES: 9 August 11

Based on the running trading scenario bank nifty future is expected to trade between the broad levels of 9930 to 10500.Bank nifty futures can go down till the level of 10050 once it breaks the level of 9930. On the opposite side once breaking the level of 10375, it is expected to go upward till the level of 10500. Bank nifty will be trading between the narrow ranges of 10050 to 10375.

SUPPORT:  First Nifty spot level near 10050 and Second Nifty spot level at 9930

RESISTANCE:  First Resistance near to 10375  and second near to 10500


STOCKS FOR TODAY: 9 AUG 11

ESSAR PORTS

ESSAR PORTS closed trading at 73.45 on MONDAY. Expected resistance and support levels for the scrip for the next trading session are:

Resistance levels

R1-75
R2- 78

Support levels

S1- 71
S2- 67

WOCKHARDT

Wockhardt has seen trading within the range of 410 to 453 on MONDAY. Expected levels for this script are as follow:

Resistance levels

R1- 450 
R2- 454

Support levels

S1- 445 
S2- 441

STOCK MARKET REVIEW: 9 August 11


CNX Midcap index was down about 1.27% while BSE smallcap index also lost 2.23%.

The BSE Sensex ended at 16,990 losing 315 points. It had earlier touched a day's high of 17,247 and a day's low of 16,759 the renewed 52 week low. It opened at 16,907. The NSE Nifty closed at 5,119 losing 93 points it also touched the new 52 week low of 5,054.05.

Today's decline was mainly led by a sell real estate, IT, telecom and metal stocks. Power and banking were the other notable losers. Overall, trading was very negative with all the sectoral indices ended in red. Mid-Cap and Small-Cap Index also experienced heavy discharge.

Today’s Nifty Top gainer were HERO MOTOCORP with changes 3.93%, ONGC with changes 2.18 %, ACC with changes 2.25% and losers were DLF with changes 6.87% .REL POWER. with changes 6.68%,TATA MOTORS with changes 6.96%

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